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john boehner, the speaker of the house, sent a message that a deal was in the works. he threw several house members off of key committees when they criticized him openly for looking like he was ready to make some deal on taxes with president obama. that's a sign to me that he's going to clear the decks to try to push through a deal. it's a sign that we're going get some kind of tax increases for the top 2%. i don't know where those numbers are going to be. pretty clear to me that a deal is in the works and we're heading in that direction. what i'm not sure of is whether the market will go up on this, necessarily. >> in terms of that january effect, bob, does that even matter this year? >> yes, look, it's not long from anybody, january and february are the best months of the year. that's a factor. >> let me ask you about putting money to work, keith springer. you say we're going to get a deal regardless. we may get a deal regardless, but that deal means probably higher taxes and lower spending. what are the areas in the economy in your view that get impacted most by a
john boehner, the speaker of the house, sent a message that a deal was in the works. he threw several house members off of key committees when they criticized him openly for looking like he was ready to make some deal on taxes with president obama. that's a sign to me that he's going to clear the decks to try to push through a deal. it's a sign that we're going get some kind of tax increases for the top 2%. i don't know where those numbers are going to be. pretty clear to me that a deal is in...
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Dec 5, 2012
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john boehner is really the only republican power in town. so a lot of people think that he's going to have to move toward the president. right now, he's showing absolutely no signs of that. but public opinion is definitely in the president's side. >> the president seems to be counting on here that if no deal is reached, the gop will get the blame from voters. is that the right calculation to make? >> absolutely. polls show that republicans would overwhelmingly be blamed if the united states goes over the proverbial fiscal cliff. and that's why president obama has an advantage, because he's willing -- he says, this is what he and his advisers say, he's willing to send the nation off of the fiscal cliff, letting all income tax rates to jump, spending cuts to take hold, investment income rates to jump. he's willing to do that. he thinks republicans would get the political blame. republicans, on the other hand, note that listen, the president's going to have to have another term where he's dealing with what's likely to be a deep recession as a r
john boehner is really the only republican power in town. so a lot of people think that he's going to have to move toward the president. right now, he's showing absolutely no signs of that. but public opinion is definitely in the president's side. >> the president seems to be counting on here that if no deal is reached, the gop will get the blame from voters. is that the right calculation to make? >> absolutely. polls show that republicans would overwhelmingly be blamed if the...
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Dec 7, 2012
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. >>> budget talks have resumed between the staff of john boehner and the white house. "wall street journal" says this creates a ne crea breaks a near week long silence as the fiscal cliff looms. they promise to renew the negotiations. and are you earning $250,000, worried about having to pay more tax? you may be able to earn up to $300,000 and not have to hand over more cash to the irs. head to cnbc.com for more. and victor hugo's classic thofl about life, love and hitting the big screen. carolyn went to speak to the stars of the film to find out why the classic story still resonates. ♪ >> i think human truths are human truths and there's also a certain cycle to the world. >> just a look at the world and humanity, and we'll always be moved by a passion for fighting for what we believe in, we've always been moved by love. >> the power of redemption are all themes that transcend time. >> les mis has been performed 10,000 times and seen by 16 people worldwide. and now it's a major motion picture featuring hugh jackman and anne hathaway. so what does it take to transform
. >>> budget talks have resumed between the staff of john boehner and the white house. "wall street journal" says this creates a ne crea breaks a near week long silence as the fiscal cliff looms. they promise to renew the negotiations. and are you earning $250,000, worried about having to pay more tax? you may be able to earn up to $300,000 and not have to hand over more cash to the irs. head to cnbc.com for more. and victor hugo's classic thofl about life, love and hitting...
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Dec 3, 2012
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house speaker john boehner standing firm against higher taxes. sgr we' >> we've put a serious offer on the table by putting revenues up there. but the white house has responded with virtually nothing. >> why does it make sense for the country to force tax increases on all americans because of a small group of republicans won't extend tax rates for 2% of americans. there's no reason why that should happen. >> democratic strategy from bgr joining us. we'll always get a standoff at some point in these negotiations. is it a terminal standoff? when does somebody blink? >> it's not a matter of who will blink or not. i think that the republicans are trying to go tit for tat with the president. you have to realize that the president has the bully pulpit and the ability to command media. so the republicans feel the need to respond to every maneuver. i think frankly that the president's put a detailed plan on the table. republicans need to respond to that detailed plan and then they need to get in the weeds. i'm still optimistic that we'll get something do
house speaker john boehner standing firm against higher taxes. sgr we' >> we've put a serious offer on the table by putting revenues up there. but the white house has responded with virtually nothing. >> why does it make sense for the country to force tax increases on all americans because of a small group of republicans won't extend tax rates for 2% of americans. there's no reason why that should happen. >> democratic strategy from bgr joining us. we'll always get a standoff...
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Nov 29, 2012
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simon hobbs. >> john boehner, the possibility he may speak. let's see how far we can get for a rundown of the european markets. should you be invested in european equities now? don't worry about today's trade. check out this board of where we are now on the dow jones industrial average versus what's happening in europe. see the late surge coming through from the european equities on the white line? you now have a substantial outperformance for the year from those blue chips on the other side of the atlantic. we talk about europe all the time. you know the dynamics within that. looking forward, goldman sachs is actually suggesting you will make more money in european equities next year than you will in american equities. they believe that the dow jones stock's 50 will climb higher to 3,000. that's a 16% gain on that market. on the broader market next year in europe, goldman sachs thinks you will make 18%. its projection here for the s&p is for a gain of only 11% or 12%. it may be that you'll make more money according to goldman sachs next year
simon hobbs. >> john boehner, the possibility he may speak. let's see how far we can get for a rundown of the european markets. should you be invested in european equities now? don't worry about today's trade. check out this board of where we are now on the dow jones industrial average versus what's happening in europe. see the late surge coming through from the european equities on the white line? you now have a substantial outperformance for the year from those blue chips on the other...
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Dec 5, 2012
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i think john boehner legitimately wants to get to an agreement. i've talked to the speaker and i believe he wants to get to an agreement because he understands to not have an agreement after this election is over and now is the time for an agreement, the further we go into the next session, the harder it will get. now is the time for an agreement. i think john boehner wants to get there and i want to help him try to do that. >> thank you, steny, we appreciate your time. >> thank you, becky. >>> right after this, adp, stick around. tdd#: 1-800-345-2550 when i'm trading, i'm totally focused. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 and the streetsmart edge trading platform from charles schwab... tdd#: 1-800-345-2550 gives me tools that help me find opportunities more easily. tdd#: 1-800-345-2550 i can even access it from the cloud and trade on any computer. tdd#: 1-800-345-2550 and with schwab mobile, tdd#: 1-800-345-2550 i can focus on trading anyplace, anytime. tdd#: 1-800-345-2550 until i choose to focus on something else. tdd#: 1-800-345-2550 a
i think john boehner legitimately wants to get to an agreement. i've talked to the speaker and i believe he wants to get to an agreement because he understands to not have an agreement after this election is over and now is the time for an agreement, the further we go into the next session, the harder it will get. now is the time for an agreement. i think john boehner wants to get there and i want to help him try to do that. >> thank you, steny, we appreciate your time. >> thank...
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Dec 7, 2012
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. >> house speaker john boehner is to speak on the fiscal cliff negotiations in just a few minutes. we'll bring you those comments live as soon as he starts speaking. plus, former ohio governor ted strickland will join us. he says republicans are not acting in the best interest of the country when it comes to the fiscal cliff and explain exactly why he's saying that on cnbc. [ male announcer ] this is joe woods' first day of work. and his new boss told him two things -- cook what you love, and save your money. joe doesn't know it yet, but he'll work his way up from busser to waiter to chef before opening a restaurant specializing in fish and game from the great northwest. he'll start investing early, he'll find some good people to help guide him, and he'll set money aside from his first day of work to his last, which isn't rocket science. it's just common sense. from td ameritrade. it's just common sense. i have obligations. cute tobligations, but obligations.g. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks for
. >> house speaker john boehner is to speak on the fiscal cliff negotiations in just a few minutes. we'll bring you those comments live as soon as he starts speaking. plus, former ohio governor ted strickland will join us. he says republicans are not acting in the best interest of the country when it comes to the fiscal cliff and explain exactly why he's saying that on cnbc. [ male announcer ] this is joe woods' first day of work. and his new boss told him two things -- cook what you...
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Nov 29, 2012
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is that what he laid down on the table for speaker john boehner today? reid told me -- no, there was no specific offer here today from geithner to the republican side. he said that the president of the united states made the democrats' over two weeks ago and there's been no new specific offer since then. i think that explains a little bit of why we saw this reaction from speaker john boehner a little while after he met with geithner. take a listen to how boehner described today's events. >> despite the claims that the president supports a balanced approach, the democrats have yet to get serious about real spending cuts. and secondly, no substantive progress has been made in the talks between the white house and the house over the last two weeks. >> sue, on a lighter note, it looks like there are negotiations going on up here. i just saw a plate of lunch being brought in to the room where we believe that secretary geithner is sitting right now. we're also seeing some of the aides go in and out of that room as well. so clearly deals are being crafted here.
is that what he laid down on the table for speaker john boehner today? reid told me -- no, there was no specific offer here today from geithner to the republican side. he said that the president of the united states made the democrats' over two weeks ago and there's been no new specific offer since then. i think that explains a little bit of why we saw this reaction from speaker john boehner a little while after he met with geithner. take a listen to how boehner described today's events....
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Nov 29, 2012
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if it happens, it'll be under the leadership of the speaker of the house of representatives, john boehner. we'll protect the middle class and we know that we'll have -- there'll be pain on both sides. we know that. but to forge a balanced agreement, we need the republicans to come forward with something. it's time to listen to the american people. and that is really a valid statement. the vast majority of independents support what the president has sent to the republicans in the house. the vast majority of democrats support it. more than 40% of the republicans support this proposal. the republicans need to show us that they can help lead this country. senator durbin? >> thank you, senator reid. we can debate at length whether the november 6th election was -- >> comments from the senate majority leader, harry reid. essentially saying the exact same thing that speaker boehner did except mr. reid chiding republicans, if you will, saying we're still waiting on a serious offer from the republicans. just a few moments ago, as you did hear live on cnbc, it was speaker boehner saying democrats ha
if it happens, it'll be under the leadership of the speaker of the house of representatives, john boehner. we'll protect the middle class and we know that we'll have -- there'll be pain on both sides. we know that. but to forge a balanced agreement, we need the republicans to come forward with something. it's time to listen to the american people. and that is really a valid statement. the vast majority of independents support what the president has sent to the republicans in the house. the vast...
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and then with house republicans including speaker john boehner, eric cantor and paul ryan. geithner will lunch with mitch mcconnell and then house minority leader nancy pelosi. president obama is signaling he's flexible on on where tax rates should go for the wealthiest americans. a return to the clinton era tax rates would have households pay between 36% to 39%. the president met with a group of 14 ceos wednesday afternoon. they offered support for resolving the if i can crisis with a proposal for higher taxes for those who make more than a quarter million dollars a year. sdl bo >> both sides have acknowledged that there will be revenue concessions and sbilgtment cent concessio concessions. i'm not a master of the political art here, but i would say if you have these point of views in a business context as close as they are, i would say a deal would be in reach. >> ford chairman bill ford junior agrees with blankfein saying he's confident the obama administration can reach a deal with congress to avoid the fiscal cliff. but speaking with reporters in bangkok, he says the a
and then with house republicans including speaker john boehner, eric cantor and paul ryan. geithner will lunch with mitch mcconnell and then house minority leader nancy pelosi. president obama is signaling he's flexible on on where tax rates should go for the wealthiest americans. a return to the clinton era tax rates would have households pay between 36% to 39%. the president met with a group of 14 ceos wednesday afternoon. they offered support for resolving the if i can crisis with a proposal...
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Dec 3, 2012
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and i feel bad for john boehner. he's in a difficult situation. i did want to remind john that he should look at the young, newer members that are so difficult to persuade to make an easy deal compromise. and remember, it wasn't too many years ago, john, that was you and me and we were driving bob michael and president bush nuts when the democrats were offering them, give us the tax increases now, we'll give you the spending cuts later and we were saying, oh, no, they'll never keep their word on the spending cuts. they'll tax the tax increases. quite frankly, the speaker has a difficult role to play here. he's seen by so many people as the principal guardian of our liberty and of sound economic policy within the context of the majority senate that frankly just think it's good for the country for the government to be bigger. the government is counterproductive to the performance of the rest of the world. >> thank you for coming on. >> i would respectfully suggest that the government is grown too big, promised too much and waited to long to restruct
and i feel bad for john boehner. he's in a difficult situation. i did want to remind john that he should look at the young, newer members that are so difficult to persuade to make an easy deal compromise. and remember, it wasn't too many years ago, john, that was you and me and we were driving bob michael and president bush nuts when the democrats were offering them, give us the tax increases now, we'll give you the spending cuts later and we were saying, oh, no, they'll never keep their word...
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. >> i guess the demise of john boehner as speaker was greatly exaggerated. did you see this "new york times" piece? more support for boehner now than anytime in his speaker ship. is that's setting up for -- >> but it is social media and twitter allows to you see these things. >> sausage factory into the front of the kitchen. >> exactly. >> geithner didn't use the word marginal rates had to go up, just said rates. >> rates are already going up. there will be a tax increase to people making more than 250 anyway because of the health care law. so the idea that somehow they will get a freebie is just crazy. >> california at 52%, new york and other places -- >> when you add up all the state and local taxes. hawaii is above 50, as well. >> hawaii is worth it, though. >> california is not bad either. >> unless you need to drive somewhere. right? and don't have a helicopter. >> there's a reason the president takes a helicopter anywhere. you can't drive in d.c. sdl those a >> boston in the city can get like that. last night i was thinking in my mother was still alive
. >> i guess the demise of john boehner as speaker was greatly exaggerated. did you see this "new york times" piece? more support for boehner now than anytime in his speaker ship. is that's setting up for -- >> but it is social media and twitter allows to you see these things. >> sausage factory into the front of the kitchen. >> exactly. >> geithner didn't use the word marginal rates had to go up, just said rates. >> rates are already going up....
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Nov 29, 2012
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you saw john boehner come out very almost angry about the fact that he says that democrats haven't given him any of those specific cuts. i think they might sit pat until they see some of these cuts coming in. the republicans feel very much, hey, we've already talked about putting revenue on the table. that's our ante in. let's see your ante in. they're waiting. the danger is the negotiation gets to a world war i trench style. they are trying to preserve a little bit of flexibility here, even as there's all this rhetoric we saw bouncing the market around all day today. >> if we haven't reached that trench warfare yet, i can't wait to see what it will be like at this point. >> clearly, there are negotiations going on. the fact that the journal has this paper is evidence that stuff is being traded. now, whether those negotiations are close to finalization is a different question. i saw rob neighbors, who is the white house's liaison to capitol hill, shuttling back and forth between harry reid's office and mitch mcconnell's office. the white house guy going back and forth between the two lea
you saw john boehner come out very almost angry about the fact that he says that democrats haven't given him any of those specific cuts. i think they might sit pat until they see some of these cuts coming in. the republicans feel very much, hey, we've already talked about putting revenue on the table. that's our ante in. let's see your ante in. they're waiting. the danger is the negotiation gets to a world war i trench style. they are trying to preserve a little bit of flexibility here, even as...
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Dec 4, 2012
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john boehner's proposal includes $800 billion in revenue but doesn't specific where it comes from. barack obama has been specific in his plan and look both sides have their plans and there's going to be negotiation, will probably end up somewhere in between. i don't understand why we can't raise tax rates on the top 1% of people if we're going to get to a balanced plan. why should the middle class pay more when we have people at the top who can pay more. >> okay. your experience as cbo director and elsewhere. the argument is being made that capping deductions whatever 25,000, 50,000, is that where the itemized deductions are, it's the upper end people who will pay for that, and that produces revenues without damaging the economic incentives, the economic growth effect of tax rate incentives. now i want to ask you, objectively, is it possible that it will affect the upper end income people without affecting the tax rate. >> you can get there. the president's budget has $600 billion raised that way. what's frustrating about this is the republicans could have gone back with a specifie
john boehner's proposal includes $800 billion in revenue but doesn't specific where it comes from. barack obama has been specific in his plan and look both sides have their plans and there's going to be negotiation, will probably end up somewhere in between. i don't understand why we can't raise tax rates on the top 1% of people if we're going to get to a balanced plan. why should the middle class pay more when we have people at the top who can pay more. >> okay. your experience as cbo...
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speaking of wasting, speaker of the house john boehner came out earlier today to say he's waiting, too, on a response from the white house to his proposal. take a listen. >> we need a response from the white house. we can't sit here and negotiate with ourselves. our targets and framework are things that we can all agree on and it's exactly how we approached our discussions in the biden group, my discussions at the white house a year-and-a-half ago, and, for that matter, in the joint select committee. >> one interesting note here is how much businesses and ceos have become the political football here. i'm told that yesterday congressman kevin mccarthy, the republican majority whip, was on a conference call with ceos and he urged them to get involved and tell the white house in all their frequent communications with the white house that they need to tell the white house to start talking to house republicans. so ceos in the business community right in the middle of this negotiation. >> eamon javers, thank you. >>> john harwood has the latest on mr. obama's big meeting with some of those c
speaking of wasting, speaker of the house john boehner came out earlier today to say he's waiting, too, on a response from the white house to his proposal. take a listen. >> we need a response from the white house. we can't sit here and negotiate with ourselves. our targets and framework are things that we can all agree on and it's exactly how we approached our discussions in the biden group, my discussions at the white house a year-and-a-half ago, and, for that matter, in the joint...
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Nov 30, 2012
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. >> reporter: now just minutes after that, speaker of the house, john boehner, the republican leader here on the house side of the capitol, took to the podium as sort of a downbeat speaker boehner saying that we are at an impasse here in washington in these negotiations. >> no, there's a stalemate. let's not kid ourselves. i'm not trying to make this more difficult. if you've watched me over the last three weeks, i've been very guarded in what i have to say because i don't want to make it harder for me or the president. >> reporter: so, brian, as you can tell, they're talking about a stalemate here in washington but the very fact that mcconnell is floating new ideas in the "wall street journal" just within the past couple of minutes is an indication that the negotiations are still going on here, although mcconnell in the interview with the journal says that there's nothing going on behind the scenes that's anymore developed than what we've seen publicly. if that's true, that's an indication that the paper is not flying as fast and furious behind the scenes as we maybe thought. >> doe
. >> reporter: now just minutes after that, speaker of the house, john boehner, the republican leader here on the house side of the capitol, took to the podium as sort of a downbeat speaker boehner saying that we are at an impasse here in washington in these negotiations. >> no, there's a stalemate. let's not kid ourselves. i'm not trying to make this more difficult. if you've watched me over the last three weeks, i've been very guarded in what i have to say because i don't want to...
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. >> john boehner and president obama speaking by phone, but no announcement of any upcoming face to face budget talks. earlier the president told the business round table that a deal to avoid the fiscal cliff could be reached quickly if republicans drop their opposition to raising tax rates on the wealthy. and in an interview on cnbc, timothy geithner says the gop is making a little bit of practice, but the white house is absolutely ready to go over the cliff if tax rates on the top 2% don't rise. >> our obligation is first do no harl. we need to lift that threat over the economy. and now as part of that, we'd like to put in place as i said a carefully designed mix of reforms to put our fiscal balance in the path of sustainability. as long as there is recognition by the other side that those rates will go up, we think we can reach an agreement on the set of reforms as i said that will be good for the economy. >> republicans were quick to hit back. orrin hatch called them stunning and irresponsible, but there may be more cracks in the ranks. "washington post" reports some moderate an
. >> john boehner and president obama speaking by phone, but no announcement of any upcoming face to face budget talks. earlier the president told the business round table that a deal to avoid the fiscal cliff could be reached quickly if republicans drop their opposition to raising tax rates on the wealthy. and in an interview on cnbc, timothy geithner says the gop is making a little bit of practice, but the white house is absolutely ready to go over the cliff if tax rates on the top 2%...
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our next guest met with john boehner on capitol hill yesterday. tom wilson is the ceo of the insurance giant allstate. i see in your preinterview notes you've got some good news, but the way you say it, i'm concerned about where we are. let me start with the good news which moons that there's some bad news. what do you mean? >> sure. i am concerned. the good news is -- and we met with the democrats who control the snachlt we met the republicans who control the house, the white house economic team. so we saw all sides of this. the good news is we all agree this is an opportunity to show the rest of the world we know how to run our house economically. they all want to make a deal, three, they all agree it's a $4 trillion number and four, they all agree -- there's three kmoents. we've got reform entitlement, raise revenue and reduce spending. so those are all the good things. you want to know the bad news. >> yeah, i guess. >> yeah. okay. so the bad news is nobody's really decided how much of that $4 trillion goes into each of the three buckets. so r
our next guest met with john boehner on capitol hill yesterday. tom wilson is the ceo of the insurance giant allstate. i see in your preinterview notes you've got some good news, but the way you say it, i'm concerned about where we are. let me start with the good news which moons that there's some bad news. what do you mean? >> sure. i am concerned. the good news is -- and we met with the democrats who control the snachlt we met the republicans who control the house, the white house...
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speaker of the house john boehner also got into the conversation saying, mr. president, the budget will never balance without economic growth. how does raising tax rates on 1 million small businesses create jobs and grow the economy? let's see if the president responds to that one. he still has it. back over to you. >> that feels a little bit like a side show. >> tax cuts on one group help but tax cuts over here won't help and $80 billion a year will suddenly save medicare. >>> america doubling down on secret agents. u.s. sending out nearly 2,000 new spies. next we'll tell you their prime targets -- hint -- and the price tag for you, the taxpayer, will be paid for by tax hikes on the rich. >>> the cnbc real-time exchange market snapshot is sponsored by -- i always wait until the last minute. can i still ship a gift in time for christmas? yeah, sure you can. great. where's your gift? uh... whew. [ male announcer ] break from the holiday stress. ship fedex express by december 22nd for christmas delivery. you won't just find us online, you'll also find us in pers
speaker of the house john boehner also got into the conversation saying, mr. president, the budget will never balance without economic growth. how does raising tax rates on 1 million small businesses create jobs and grow the economy? let's see if the president responds to that one. he still has it. back over to you. >> that feels a little bit like a side show. >> tax cuts on one group help but tax cuts over here won't help and $80 billion a year will suddenly save medicare....
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. >> the republicans spoke just a minute ago, john boehner saying his fellow republicans do in fact, as we watch the president work the room ahead of his remarks, they do back his opposition to raising rates outright. this chatter that the coalition is fraying, how complicating is that? the question is whether it frays enough to caught a fundamental shift in strategy. i think at the end of the dahl the republicans will give on higher rates. the question is when? does 2 happen before december 31st? in which case republicans and conservatives would argue republicans are agreeing to a tax increase. does it happen after january 1st when rates will have already risen? and if they cut them to 37% top rate, then republicans could say, hey, we just cut taxes. that's really the question. the president has made an argument that it is not practical to get all the money he wants from merely closing loopholes and deductions. he's said different things in the past. he's acknowledged significant amounts of money can be raised through closing loopholes. can you get it done quickly? by the end of the
. >> the republicans spoke just a minute ago, john boehner saying his fellow republicans do in fact, as we watch the president work the room ahead of his remarks, they do back his opposition to raising rates outright. this chatter that the coalition is fraying, how complicating is that? the question is whether it frays enough to caught a fundamental shift in strategy. i think at the end of the dahl the republicans will give on higher rates. the question is when? does 2 happen before...
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boehner used a similar phrase. maybe that means call me? i don't know. analysts say there are some suggestions that there's real progress that can be made. >>> a 7.3 magnitude earthquake hit the northeastern coast of japan this morning, the same area as the devastating march 2011 quake. but there was a tsunami warning canceled and reports of injuries or damage even though the quake shook buildings. workers at the fukushima nuclear plant were ordered to higher ground as a precaution. >>> our guest host is dan gilbert, he's chairman and founder of quicken loans and the owners of the nba's cleveland cavaliers and among the topics we're ready to talk about dan, the risk of the looming fiscal cliff and the broader economy. we'll start with this morning's other top stories. dan, welcome, great to have you here. >> great to be here. >> we want to find out about a lot of things including the housing market, because i know you have a really good feel for it. >> there's a lot to talk about that's for sure. >> the cliff and s
boehner used a similar phrase. maybe that means call me? i don't know. analysts say there are some suggestions that there's real progress that can be made. >>> a 7.3 magnitude earthquake hit the northeastern coast of japan this morning, the same area as the devastating march 2011 quake. but there was a tsunami warning canceled and reports of injuries or damage even though the quake shook buildings. workers at the fukushima nuclear plant were ordered to higher ground as a precaution....
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speaker john boehner has said that this is something that is much closer to the bowles-simpson proposal. erskine bowles saying the gop offer does not represent the plan, he says both sides are kind of far away from it at this point and that it's now up to negotiators to figure out where the middle ground is today. >> bowles said that the mid point that i used back in -- this is where we were last year. so used the mid point of the negotiations, but it's in longer the mid point i guess. >> he also said -- he is a testimony, but he has separated himself from the administration by saying that they thoo should have taken more of their proposals more seriously. he also said last night that you will see higher marginal tax rates. >> higher marginal or effective? >> higher mar begin ginal rates talking about last night. >> that's part of the 500. >> he thinks as part of the compromise to get there, you'll have to see the democrats get their way in terms of higher marginal tax rates. he also said that the republicans should be able to see higher entitlement cuts, that that should be part of thi
speaker john boehner has said that this is something that is much closer to the bowles-simpson proposal. erskine bowles saying the gop offer does not represent the plan, he says both sides are kind of far away from it at this point and that it's now up to negotiators to figure out where the middle ground is today. >> bowles said that the mid point that i used back in -- this is where we were last year. so used the mid point of the negotiations, but it's in longer the mid point i guess....
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john boehner will pull the switch in a hospital of holiday inn duesed n induced nonpartisa. >> that's the look ahead today. we've had a few technical problems with getting our licks up to north america which is why we've had a number of guests stacking up, but i'm assured we're working on them. we will talk about the ski season, as well. before that, let's remind you what the headlines are today. fiscal cliff talks set to drag ons as budget proposal by republicans dismissed by the white house. banking union talks taking central stage in brussels. finance ministers trying to find a deal. and australia central bank has cut interest rates to its lowest level since the financial crisis. how? cdw and hp networking implemented a virtual application network that reduces the time to deploy cloud applications from months to minutes. with fewer bottlenecks like this. finally. charles! client golf. aim for the lake. really? can i still ship a gift in time for christmas? yeah, sure you can. great. where's your gift? uh... whew. [ male announcer ] break from the holiday stress. ship fedex express
john boehner will pull the switch in a hospital of holiday inn duesed n induced nonpartisa. >> that's the look ahead today. we've had a few technical problems with getting our licks up to north america which is why we've had a number of guests stacking up, but i'm assured we're working on them. we will talk about the ski season, as well. before that, let's remind you what the headlines are today. fiscal cliff talks set to drag ons as budget proposal by republicans dismissed by the white...
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. >> stocks trade on fiscal cliff comments from president obama and john boehner. >> no substantive progress has been made in talks between the white house and the house over the last two weeks. the white house has to get serious. >> republicans know where we stand. we have said it. we've said it. we've said it so many times. >> i think all of us today are confident we can reach a bipartisan agreement by christmastime. >> according to a congressional republican aides who have talked to "the wall street journal," they obtained a copy of the white house prover here in the negotiations. >> do you have faith in any of them to rise above? >> would it be okay to go over? >> we will rise above. >> eamon javers joins us live from washington. they seem farther apart than ever before. the dow is above 13,000 for the first time in several weeks. do you think the markets are reading comments correctly? >> i do think markets have gotten it wrong a lot this week. they have been reacting strongly to things that are boilerplate information and basic statements from congress that we hear all the time and mar
. >> stocks trade on fiscal cliff comments from president obama and john boehner. >> no substantive progress has been made in talks between the white house and the house over the last two weeks. the white house has to get serious. >> republicans know where we stand. we have said it. we've said it. we've said it so many times. >> i think all of us today are confident we can reach a bipartisan agreement by christmastime. >> according to a congressional republican...
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does john boehner have more control? >> they think obama can get anything through the house of representatives. but everything that has happened since the election all of the moves in the republican caucus have been about boehner consolidating control over that tea party caucus that didn't allow boehner to get a deal in 2011. >> there will be some criticism about it being two people at the table. will they get a deal done? >> i think there's some criticism from republicans about secret negotiations. i hate to break to to people in washington, but all negotiations over policy are secret in washington. that's how legislation gets done. you have to be in a room with negotiators to cut a deal. i wouldn't fret. >> they get criticized for not talking to each other and criticized for how to talk to each other. king maker, leaving before his term is up. says he could be more effective outside of the senate. what are they making of this in washington? >> a lot of people say the allure of a think tank with a big salary. >> more th
does john boehner have more control? >> they think obama can get anything through the house of representatives. but everything that has happened since the election all of the moves in the republican caucus have been about boehner consolidating control over that tea party caucus that didn't allow boehner to get a deal in 2011. >> there will be some criticism about it being two people at the table. will they get a deal done? >> i think there's some criticism from republicans...
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the president and the house speaker john boehner finally spoke yesterday by phone. they have both agreed to keep the details of the discussion under wraps. they're both standing firm on the tax hike, their positions on the tax hikes for the top 2%. listen. >> the revenues we're putting on the table are going to come from, guess who? the rich. >> once republicans acknowledge that rates are going up for top earners, we believe that an agreement is very achievable. >> kate balduan is in washington, d.c., this morning. so that's kind of a depressing thing, when just the advent of a phone conversation between the two top dealmakers is the headline, isn't it? >> i could not agree with you more. the fact that they spoke, but the fact that there's no progress, and that's a headline. i mean, if we want to take anything from it, any significance, it's the first time they've talked in a week. take that what you will. it's almost like hope springs eternal, but we are a long way from a deal still. neither side, as you said is giving on their basic position. president obama conti
the president and the house speaker john boehner finally spoke yesterday by phone. they have both agreed to keep the details of the discussion under wraps. they're both standing firm on the tax hike, their positions on the tax hikes for the top 2%. listen. >> the revenues we're putting on the table are going to come from, guess who? the rich. >> once republicans acknowledge that rates are going up for top earners, we believe that an agreement is very achievable. >> kate...
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these negotiations are between two men, house speaker john boehner and the president. and once those two men agree, then they will take it to their folks. >> all right. kate balduan, live in washington. thank you. >> thanks, guys. >>> all right, recreational pot is now legal in washington state under a new law which took effect at midnight. adults can possess up to an ounce of marijuana legally. it's still against the law to grow pot or to sell it. but those celebrating the new normal are accentuating the positive. >> it's amazing. i'm not a criminal anymore. i can't go to jail for small amounts of marijuana, you know? it's -- i'm free to be free. >> the new law doesn't allow smoking in public places, just like alcohol, but police in seattle and across the state made an exception for overnight celebrations to ring in this new law. >>> so it's another public relations problem for penn state. the school's kai omega sorority is under investigation for stereotype i stereotyping latinos. pictures showed the sorority members in somberos with fake mustaches with signs that sa
these negotiations are between two men, house speaker john boehner and the president. and once those two men agree, then they will take it to their folks. >> all right. kate balduan, live in washington. thank you. >> thanks, guys. >>> all right, recreational pot is now legal in washington state under a new law which took effect at midnight. adults can possess up to an ounce of marijuana legally. it's still against the law to grow pot or to sell it. but those celebrating the...
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. >> john boehner made a point at expressing dismay the president hasn't responded two days after the republicans sent him a fiscal cliff counteroffer. >> if the president doesn't agree with our proposal and our outline, i think he's got an obligation to send one to the congress. and a plan that can pass both chambers of congress. >> by trying to keep gop frustration on the president, boehner appears to be keeping conservative lawmakers off his own back for now. >> what's mood inside the conference. >> very united, very supportive with the speaker. >> multiple sources tell cnn in a private meeting with house republicans, boehner got no flow back for producing $800 billion in tax revenue, despite backlash from conservative groups outside congress. >> any complaints about this new revenue? >> i didn't hear anything. >> the speaker has full support of the conference to move forward and get something done for the american people. >> so far, rank and time republicans are allowing boehner to play out this showdown, trying to look reasonable while the president is intransigent. especially si
. >> john boehner made a point at expressing dismay the president hasn't responded two days after the republicans sent him a fiscal cliff counteroffer. >> if the president doesn't agree with our proposal and our outline, i think he's got an obligation to send one to the congress. and a plan that can pass both chambers of congress. >> by trying to keep gop frustration on the president, boehner appears to be keeping conservative lawmakers off his own back for now. >>...
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john boehner is already ready for $800 billion of ip creancre tax revenue. calculating deductions, eliminating loopholes. are you with the speaker of the house on that? >> unfortunately, the policies of the president obama have already taken us over the cliff. if you meet with businesses like i do all the time, they already pared back plans and hiring for next year, anticipating what's going to happen. we can fix this christmas eve, if we want, but we've already hurt the economy and hurt job growth. >> are you with boehner? >> i am not with boehner. this government doesn't need any more money. this country needs less government. we are going to have historic levels of revenue to the government this year, but we've doubled spepding in the last ten years. >> everyone's taxes are going to go up at the end of the year if there's no deal. >> we have already offered to extend current tax rates. that's what we should have done six months ago until we could come to some agreement, some compromise on tax reform. >> when you say compromise, where are you ready to comp
john boehner is already ready for $800 billion of ip creancre tax revenue. calculating deductions, eliminating loopholes. are you with the speaker of the house on that? >> unfortunately, the policies of the president obama have already taken us over the cliff. if you meet with businesses like i do all the time, they already pared back plans and hiring for next year, anticipating what's going to happen. we can fix this christmas eve, if we want, but we've already hurt the economy and hurt...
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even though president obama and john boehner chatted by phone, there's no deal. republicans are not amused. >> incredibly many top democrats including the president seem perfectly happy to go off the cliff. that's why the president has been more interested in campaign rallies than actually negotiating a deal. >> many americans don't have much hope the two sides will make a deal and have moved to plan b. a retired teacher in utah has put off plans to get a new car. brian chandler, a data manager in atlanta is delaying buying a house despite needing space for a second kid due any day now and several families are shrinking the gift pile beneath the christmas tree this year. how about you? are you prepared if the nation goes off the fiscal cliff? facebook.com/carolcnn. facebook.com/carolcnn. your responses later this hour. >>> it's going to take massive amount of money to help the northeast recover from sandy. some $36 billion in new jersey alone. and now it's governor chris christie pushing the federal government to pick up 100% of that cost. if you are one of the m
even though president obama and john boehner chatted by phone, there's no deal. republicans are not amused. >> incredibly many top democrats including the president seem perfectly happy to go off the cliff. that's why the president has been more interested in campaign rallies than actually negotiating a deal. >> many americans don't have much hope the two sides will make a deal and have moved to plan b. a retired teacher in utah has put off plans to get a new car. brian chandler, a...
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now, john boehner has said not only we're putting $800 billion on the table but we're going to aim it at the rich. the rich are the ones that will pay. that's what he said today. yesterday, president obama said something that was very, very important. he offered the outlines of a deal that might work with republicans. that's something we talked about on your show a couple nights ago, anderson. that is, raise the rates now and then engage in conversations next year on tax deductions and loopho loopholes. and that's called base broadening. base broadening in the past has been attached to lowering the rates. lowering the rates. that's what happened in 1986 with tax reform. so, what the president is saying, there is a way to raise rates temporarily. but through further reform you say you're interested in, we could lower them back down next year. >> david, you've been critical of the president and democrats. do you still think they're overplaying their hand here? >> i think there are people around the president who are more interested or at least have a strong interest in using this as a w
now, john boehner has said not only we're putting $800 billion on the table but we're going to aim it at the rich. the rich are the ones that will pay. that's what he said today. yesterday, president obama said something that was very, very important. he offered the outlines of a deal that might work with republicans. that's something we talked about on your show a couple nights ago, anderson. that is, raise the rates now and then engage in conversations next year on tax deductions and loopho...
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. >> so, anna, i hear comments like those and remarks by john boehner and the president of the united states and i wonder after the election, did we learn anything? because i -- my reading on the election was that the people, the voters wanted compromise. and for the people in washington to talk to each other not at each other. that still appears to be what they're doing, no? >> i think right after the election that was the message that even president obama and john boehner and the entire leadership, we saw that incredible image of the minority and majority leaders on both houses come out saying things that sounded like they were going to cooperate. but, you know, only in washington can that mean nothing quickly. but i do think, look, let's put this in perspective. we have a game of chicken going on here with a lot of posturing. there's 30 days to get this done, which for washington time it's like dog years. it's an eternity. one day counts for seven. when they want to get something done, they can get it done. but i think right now you're seeing a lot of public posturing to get the be
. >> so, anna, i hear comments like those and remarks by john boehner and the president of the united states and i wonder after the election, did we learn anything? because i -- my reading on the election was that the people, the voters wanted compromise. and for the people in washington to talk to each other not at each other. that still appears to be what they're doing, no? >> i think right after the election that was the message that even president obama and john boehner and the...
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so john boehner trying to simplify things. he's asking top democrats and republica republicans to step aside so he can negotiate with the president one-on-one. it seems to be a request that everyone was able to live with. brianna keilar is live for us at the white house. if this is the case that everybody has been cleared out of the room, does that surprise you? it seems to make sense to me. >> reporter: it's not surprising at all. this is what observers of this process thought would happen all along. ultimately this was a process that would come down to president obama and house speaker john boehner brokering a deal. very much the way you saw they attempted to do during the debt ceiling debacle last year. it simplifies the problem of less cooks in the kitchen. then they will have to sell it. president obama would have to bring in democrats. john boehner would have to bring in his republicans and make sure everyone is on board. this comes on the heels of what has really been radio silence between the white house and house repu
so john boehner trying to simplify things. he's asking top democrats and republica republicans to step aside so he can negotiate with the president one-on-one. it seems to be a request that everyone was able to live with. brianna keilar is live for us at the white house. if this is the case that everybody has been cleared out of the room, does that surprise you? it seems to make sense to me. >> reporter: it's not surprising at all. this is what observers of this process thought would...
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about to pay a call on house speaker john boehner. speaker boehner a key republican and after his meeting with geithner this morning, boehner said these urgent talks haven't moved forward in two weeks. keep in mind, they need to get it done by january 1st and here's boehner getting grumpy with cnn's kate baldwin. take a look. >> to this point, most -- most public statements have been optimistic, confident, hopeful. we're all sensing a very different tone from you right now. are you walking away from talks? have things completely broken down, mr. speaker? >> no, no, no. stop. i got to tell you. i'm disappointed in where we are and disappointed in what's happened over the last couple of weeks. but going over the fiscal cliff is serious business. and i'm here seriously trying to resolve it. and i would hope the white house would get serious, as well. >> all right. so once again, here are the cliff notes right here. republicans on the hill are demanding trillions of dollars worth of debt reduction. that's pretty much fine with democrats w
about to pay a call on house speaker john boehner. speaker boehner a key republican and after his meeting with geithner this morning, boehner said these urgent talks haven't moved forward in two weeks. keep in mind, they need to get it done by january 1st and here's boehner getting grumpy with cnn's kate baldwin. take a look. >> to this point, most -- most public statements have been optimistic, confident, hopeful. we're all sensing a very different tone from you right now. are you...
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let's listen to house speaker john boehner again. >> right now, all eyes are on the white house. the country doesn't need a victory lap, it needs leadership. it's time for the president, congressional democrats to tell the american people what spending cuts they are willing to make. >> so you know, the republicans want to see bigger spending cuts, more spending cuts on the democratic side. this $450 billion from the white house, unspecified cuts to medicare is just not enough. so, that's where we stand with just over a month to go before this big deadline and the holiday break is coming up. >> very concerned about that. the president is taking his pitch to pennsylvania today. what is he going to say to the american people and how does he plan to sell his approach? a lot of people want a plan to pass. >> certainly, polls show there's support for this combination of tax increases and spending cuts. the president is going to a toy manufacturer. the white house says this is the kind of company that relies on middle class companies, the kind of families that could see their taxes go u
let's listen to house speaker john boehner again. >> right now, all eyes are on the white house. the country doesn't need a victory lap, it needs leadership. it's time for the president, congressional democrats to tell the american people what spending cuts they are willing to make. >> so you know, the republicans want to see bigger spending cuts, more spending cuts on the democratic side. this $450 billion from the white house, unspecified cuts to medicare is just not enough. so,...
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yesterday, john boehner moved the markets higher. it was joyful talk about a possible deal, but today, it was like a break-up over tax. he went from love to disgust. here he is right after tim geithner put that deal on the table. >> no progress has been made in the talks between the white house and the house over the last two weeks. >> all right. that's pretty grim. stocks lost early games on that news and the day went downhill. harry reid slapped back. >> still waiting for a serious offer from the republicans. >> so, they agree on something. no progress. but then it actually went beyond that. reid got a little personal. >> i don't understand his brain so you should ask him, okay? >> funny, but really not so funny. so what happens when the men in charge start throwing sand in the sand box? we just go over the cliff like some are now suggesting? recall what err skine bowles said two weeks ago. >> i think that's crazy. you know, why would you bet the country? really bet the country by going over this fiscal cliff. >> crazy? betting the
yesterday, john boehner moved the markets higher. it was joyful talk about a possible deal, but today, it was like a break-up over tax. he went from love to disgust. here he is right after tim geithner put that deal on the table. >> no progress has been made in the talks between the white house and the house over the last two weeks. >> all right. that's pretty grim. stocks lost early games on that news and the day went downhill. harry reid slapped back. >> still waiting for a...
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including, in my opinion, john boehner. however, we ought not to hold hostage middle-class tax cuts, and that's what you're talking about, tom cole, that wasn't a question of compromise, it was simply to say, look, we all agree that middle-class tax rates ought not to get a tax increase on january 1st. not good for them. not good for the economy. we'll pass that. the senate's passed a bipartisan bill that called for that. tom cole the former chairman of the republican campaign committee in the house of representatives said just earlier this week we'll all pass that. i agree with him. secondly, the republicans have agreed that we need to have some sort of balance, more and more republicans are saying we need to have revenues. you cannot do it simply with cutting spending. thirdly, i don't think that anybody wants to hurt the vulnerable in america. >> no, i think -- but the question, the question here is, is on the issue of taxes for instance. the president proposed tax cuts -- i'm sorry tax increases that went beyond what th
including, in my opinion, john boehner. however, we ought not to hold hostage middle-class tax cuts, and that's what you're talking about, tom cole, that wasn't a question of compromise, it was simply to say, look, we all agree that middle-class tax rates ought not to get a tax increase on january 1st. not good for them. not good for the economy. we'll pass that. the senate's passed a bipartisan bill that called for that. tom cole the former chairman of the republican campaign committee in the...
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john boehner called the plan bait and switch and minority leader much mcconnell made him burst into laughter. >> across the globe today is world aids day, the white house marking the event by displaying a red ribbon on the north portico, a life picture of the white house, an international show of support and awareness, in a proclamation president obama says in part that the united states is committed to preventing the disease is quote, spending and ending this pandemic once and for all. >> do same-sex couples have a constitutional right to mayor? we don't know yet. the u.s. supreme court held a closed-door meeting to decide whether to hear a series of appeals. but they didn't say if they will take action on the divisive issue. some took this as a sign that nine justices need more time. we expect an announcement by monday morning. >>> and we continue to keep an eye on former president george h.w. bush this morning who is in stable condition at houston's methodist hospital. he was admitted eight days ago and is being treated for bronchitis. his office says the former president is expected to b
john boehner called the plan bait and switch and minority leader much mcconnell made him burst into laughter. >> across the globe today is world aids day, the white house marking the event by displaying a red ribbon on the north portico, a life picture of the white house, an international show of support and awareness, in a proclamation president obama says in part that the united states is committed to preventing the disease is quote, spending and ending this pandemic once and for all....
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john boehner saying that the two sides are no closer than they were two weeks ago and saying that democrats really need to get serious about negotiating here. this could all be a tactic. maybe it isn't as far apart as it appears, but publicly at least it seems like there's a lot of distance before they can get a deal here. >> i'll say. all right, dan lothian, thank you for that. do appreciate it. >>> want to head to the united nations now something you consider one heck of a historic vote. take a look. >> the voting has been completed. please lock the machine. >> that is what it looks like when there's official approval to upgrade a member like this member, the palestinian authority, at the united nations. so, the palestinian authority now has a non-member observer status state. so, that is the same status held by the vatican, but it is not the same status that the united states enjoys. it is still a rung away from that. so, what exactly does it mean? just how good is it? is it symbolic? is it political? let's bring in our senior u.n. correspondent richard ross. this is an overwhelmingly vo
john boehner saying that the two sides are no closer than they were two weeks ago and saying that democrats really need to get serious about negotiating here. this could all be a tactic. maybe it isn't as far apart as it appears, but publicly at least it seems like there's a lot of distance before they can get a deal here. >> i'll say. all right, dan lothian, thank you for that. do appreciate it. >>> want to head to the united nations now something you consider one heck of a...
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house speaker john boehner announced the committee chairman of 19 committees earlier this week. all but one are white men, actually. although just yesterday, as i said, he did appoint this woman representative of michigan as chair of the administration committee in the incoming house, there will be only 20 republican women, that's compared with 58 democrats. the same story in the senate. four republican women, 16 democrats. so maria, how do you fix that? >> well, and this goes to the problem that the gop has, which is an issue of credibility. and john mccain is right. that the gop absolutely has to change the way that they reach out to the changing demographics of this country. latinos, african-americans, women. but it's going to take a lot more than just talking about a new agenda. and it will have to be a new agenda. they actually have to reflect what this country looks like. so when you have john boehner basically leading the house of representatives with virtually all white men in leadership positions, and as i understand it, the position that candice miller now has is prett
house speaker john boehner announced the committee chairman of 19 committees earlier this week. all but one are white men, actually. although just yesterday, as i said, he did appoint this woman representative of michigan as chair of the administration committee in the incoming house, there will be only 20 republican women, that's compared with 58 democrats. the same story in the senate. four republican women, 16 democrats. so maria, how do you fix that? >> well, and this goes to the...
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>>> want to take you live to capitol hill where house speaker john boehner is speaking live to the press and emerged from are a meeting with timothy geithner, treasury secretary. let's listen in to what he has to say. >> i met with erskine bowles and business leaders about averting the fiscal cliff, and achieving t the balance the white house says it wants. i made clear we put real concessions on the line by putting revenues on the table right up front. unfortunately, many democrats continue to rule out sensible spending cuts that must be part of any significant agreement that will reduce our deficit. and mr. bowles himself said there is no serious discussion of spending cuts so far. and unless there is, there is a real danger of going off the fiscal cliff. listen, going off the fiscal cliff will hurt our economy and will cost american jobs. republicans have taken action to avert the fiscal cliff by passing legislation to stop all the tax hikes. to replace the sequester, and pave way for -- pave the way for tax reform and entitlement reform. and we're the only ones with a balanced plan t
>>> want to take you live to capitol hill where house speaker john boehner is speaking live to the press and emerged from are a meeting with timothy geithner, treasury secretary. let's listen in to what he has to say. >> i met with erskine bowles and business leaders about averting the fiscal cliff, and achieving t the balance the white house says it wants. i made clear we put real concessions on the line by putting revenues on the table right up front. unfortunately, many...
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will you call john boehner tomorrow morning and say mr. speaker, i think you should release that bill and allow republicans to show whether they are pledged to me or pledged to the united states. >> first of all, let's be serious. you know better than that. the pledge that congressmen and senators, governors, state legislators, take is to the american people. i know harry reid plays games and says me but you shouldn't do that. you're better than that. >> grover, answer my question. don't play games right now. will you -- do you think that they should actually vote -- >> i'll answer -- >> -- do you -- >> i will answer your question. we just had to take off the question the nonsense attack that i expect from harry reid. i will call mr. boehner tomorrow shortly after i call harry reid and ask him to make sure that the senate rules will allow open debate and open amendment and that he won't play games as he's been doing for the last four years, and when harry agrees to that, i will call boehner and ask him to alter house rules. >> okay. >> i'l
will you call john boehner tomorrow morning and say mr. speaker, i think you should release that bill and allow republicans to show whether they are pledged to me or pledged to the united states. >> first of all, let's be serious. you know better than that. the pledge that congressmen and senators, governors, state legislators, take is to the american people. i know harry reid plays games and says me but you shouldn't do that. you're better than that. >> grover, answer my question....
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john boehner versus the president of the united states. and we want to just look at the sound bites from today and talk about how much of this is posturing and how much of this is sort of revealing a bottom line. let's listen. >> when i came out the day after the election and make it clear that republicans will put revenue on the table, i took a great risk. and then the white house spends three weeks trying to develop a proposal. and they send one up here that calls for $1.6 trillion in new taxes, calls for a little -- not even $400 billion in cuts, and they want to have this extra spending that's actually greater than the amount they're willing to cut. i mean, it was not a serious proposal. and so right now we're almost nowhere. >> -- this should come as a surprise to anybody. we had debates about it, a lot of tv commercials about it. and at the end of the day a clear majority of americans, democrats, republicans, independents, they agreed with a balanced approach to deficit reduction and making sure that middle class taxes don't go up. f
john boehner versus the president of the united states. and we want to just look at the sound bites from today and talk about how much of this is posturing and how much of this is sort of revealing a bottom line. let's listen. >> when i came out the day after the election and make it clear that republicans will put revenue on the table, i took a great risk. and then the white house spends three weeks trying to develop a proposal. and they send one up here that calls for $1.6 trillion in...